Altneuland: The European Constitutional Terrain It is in many respects a New Land - for the first time the Union is openly, officially using the word Constitution in its formal self-understanding. But this, in turn, places it, at least lexically, in the age old terrain of constitutionalism which...

The paper first develops an economic analysis of the concept of shareholder value, describes its approach and discusses some open questions. It emphasizes the relationship between pledgeable income, monitoring and control rights using a unifying and simple framework. The paper then provides a...